Legal Question in Wills and Trusts in Ohio

My father took out a loan for a vehicle for me 2-1/2 years ago because of my poor credit. I have made every payment on time and have insurance for the vehicle in my name. What happens if he passes away (he is very ill) to the car? I don't think I will be able to get a loan in my name yet. He has basically no life insurance and he does have other debt as well.


Asked on 6/13/11, 8:07 am

1 Answer from Attorneys
Nancy Fioritto Patete Nancy Fioritto Patete, Esq.

The debt of a car loan does not get extinguished upon the death of the person who holds the loan. If the loan isn't assigned to another person or paid off, the car would likely get repossessed. Since you are quite a few months into the loan payment scheduled you might try negotiating with the lender. Good luck.

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Answered on 6/14/11, 11:37 am


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